Companies in Energy Ministry portfolio recorded combined loss of RON 4.2 bln in 3 years

Newsroom 17/10/2016 | 09:51

As in the last three years companies in the subordination of the Ministry of Energy have registered losses of RON 4.2 billion, the authorities have rolled out a plan designed to improve the transparency of the state-owned firms.

According to a release of the Ministry, in 2015 three companies in which the Ministry of Energy holds controlling stakes reported losses of RON 2.8 billion (The Energy Complex Oltenia, The National Agency of Nuclear Activities and the Energy Complex Hunedoara).

In 2014, the total losses amounted to RON 1.24 billion and the companies were The Energy Complex Oltenia, the National Company of Uranium, RATEN and the Energy Complex Hunedoara.

The total losses from 2013 were RON 210 million and the companies that registered them were the Energy Complex Hunedoara and Eletrocentrale Grup.

 „The Integrity warning represents the reporting or supplying information of public intererest that a person becomes aware of during their professsional activity. The warning as instrument has a prevention role, it’s not a blackmail instrument, its role is to protect the public interest, ” said Iulia Cospanaru, the vice-director of Transparency International Romania.

„There’s what is called a black number or criminality, those situations that are never discovered, never identified, because there’s no one to reveal them. Lacking an integrity warning, respectively a person responsible of reporting what is behind, they remain unkown, ” added Cospanaru.

Georgiana Bendre

BR Magazine | Latest Issue

Download PDF or read online: December 2022 Issue | Business Review Magazine

The December 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Xclusiverse: Going Beyond the Traditional Ways of Doing Business.”
Newsroom | 19/12/2022 | 18:45

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of
    I agree with the storage and handling of my data by
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue